By Andrea Heisinger
New York, March 1 - Harley-Davidson Financial Services Inc. priced an upsized $450 million of 3.875% five-year notes on Tuesday to yield Treasuries plus 175 basis points, a source close to the trade said.
The size was increased from $350 million.
The notes (Baa1/BBB/BBB+) sold at 99.94 to yield 3.888%. They were priced under Rule 144A.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
Proceeds are being used to pay down debt, including commercial paper.
The notes are guaranteed by Harley-Davidson Credit Corp.
The funding arm of motorcycle maker Harley-Davidson Inc. is based in Milwaukee.
| Issuer: | Harley-Davidson Financial Services Inc.
|
| Guarantor: | Harley-Davidson Credit Corp.
|
| Issue: | Notes
|
| Amount: | $450 million, increased from $350 million
|
| Maturity: | March 15, 2016
|
| Bookrunners: | Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
|
| Coupon: | 3.875%
|
| Price: | 99.94
|
| Yield: | 3.888%
|
| Spread: | Treasuries plus 175 bps
|
| Distribution: | Rule 144A
|
| Trade date: | March 1
|
| Settlement date: | March 4
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
